FY2024 2nd Quarter Financial Results (2023/4-2023/9)

November 7, 2023

Disclaimer

This presentation contains forward looking statements which reflect Management's current

views and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments.

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Reminders

  • All amounts are in JPY (unless otherwise noted)
  • ''Mass production'' sales in this report means sales of assembly and transmission parts
  • ''New vehicle model development'' sales in this report means sales of equipment, die and new model prototype
  • G-ONEAUTO PARTS DE MEXICO, S.A. DE C.V. (G-ONE), the equity-method affiliate, is excluded from North America Segment
  • Financial statements are available in '' Summary of Consolidated Financial Results for the Three Months Ended September 30, 2023 (Based on Japanese GAAP) '' disclosed at G-TEKT official website on November 7, 2023. https://ssl4.eir-parts.net/doc/5970/ir_material_for_fiscal_ym11/144106/00.pdf

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Overview of FY2024 2nd Quarter Financial Results

(in JPY billion)

NET SALES

¥ 165.2 B

(YOY variance)

+6.7%

OPERATING PROFIT

¥ 6.3 B

(YOY variance)

-12.7%

EPS

¥ 138.18

(YOY variance)

-14.4%

  • As a result of the continued recovery trend in production at customers, net sales increased due to an increase in the number of orders and production volume.
  • Decrease in operating profit due to decrease in sales of new vehicle model development despite increase in mass-production sales.
  • Due to the positive earning in the first Half, upward revision was made in previous FY2024 financial outlook.

Renewed FY2024 Outlook

Net Sales

Operating Profit

EPS

337.0

(YOY)

13.5

(YOY)

¥216.00

(YOY)

+7.2%

+5.2%

-9.4%

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

FY2024 2nd Quarter Financial Results(2023/4-2023/9)

FY2023

Change

YOY variance

FY2024

Currency

(in JPY billion)

Apr. - Sept.

Apr. - Sept.

effects

Net sales

154.8

+10.4

+6.7%

165.2

+6.2

Operating profit

7.2

-0.9

-12.7%

6.3

+0.3

Operating profit margin

4.7%

-0.9pt

-

3.8%

-

Net income attributable to

6.9

-1.0

-14.3%

5.9

+0.2

owners of parent

EPS (¥)

161.46

-23.3

-14.4%

138.18

-

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Factors Affecting Operating Profit

(in JPY billion)

-0.9

7.2

+0.5

-7.2

6.3

1

+9.8

+0.6

2

2

3

3

-1.4

4

-2.0

4

5

-0.7

5

-0.1

-0.5

6

6

1

7

8

9

7

8

9

FY2023

FY2024

Apr. - Sept.

Apr. - Sept.

Sales volume & Product mix etc.

Cost saving activities

Decrease in manufacturing cost

Decrease in Non-Mass Production sales

Fall in scrap metal price Increase in labor cost Increase in SG&A expense Depreciation

Foreign currency translation

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Cash Flow Statements

(in JPY billion)

17.9 -17.7

-10.3

F/C

2.0

0.2

40.2

32.1

Key factors

Operating C/F

Profit before income taxes

+7.9

Depreciation

+9.7

Decrease in notes and accounts

+4.6

receivable - trade

Investing C/F

Net decrease in time deposits

-7.0

Purchase of property, plant and

-10.5

equipment

Financing C/F

Net decrease in borrowings

-8.7

Mar. 31, 2023

Operating C/F

Investing C/F

Financing C/F

Other

Sept. 30, 2023

Cash and cash equivalents

Cash and cash equivalents

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Net Sales by Type of Business

FY2023 Apr. - Sept.

FY2024 Apr. - Sept.

YOY variance

(in JPY billion)

Net sales

Ratio

Net sales

Ratio

Auto body

127.1

82.1%

149.7

90.6%

+17.8%

components

New vehicle model

24.2

15.7%

11.3

6.8%

-53.6%

development

Transmission parts

3.4

2.2%

4.3

2.6%

+25.5%

Other

0.1

0.1%

0.0

0.0%

-83.1%

Total

154.8

100.0%

165.2

100.0%

+6.7%

Highlights

1.0

0.7%

3.6

2.2%

+249.9%

EV-related Net Sales

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Net Sales by Customer

FY2022 Apr. - Sept.

Fy2023 Apr. - Sept.

FY2024 Apr. - Sept.

(in JPY billion)

Net Sales

Ratio

Net Sales

Ratio

Net Sales

Ratio

Honda

63.1

60.0%

86.7

56.0%

87.7

53.1%

Toyota

20.7

19.7%

35.3

22.9%

38.0

23.0%

Subaru

7.0

6.7%

10.2

6.6%

13.9

8.4%

Jaguar Land Rover

2.5

2.4%

6.2

4.0%

7.4

4.5%

Mazda / Ford

3.5

3.3%

6.0

3.9%

4.7

2.9%

BMW

2.7

2.5%

3.2

2.1%

3.8

2.3%

TESLA

-

-

-

-

2.0

1.2%

Other

5.6

5.4%

7.2

4.5%

7.7

4.6%

TOTAL

105.1

100.0%

154.8

100.0%

165.2

100.0%

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

Regional Segment: Japan

Net Sales

(in JPY billion)

FY2023 FY2024

15.8

14.8

16.7

（in JPY billion）

FY2023

FY2024

YOY

Currency effects

13.3

Apr. - Sept.

Apr. - Sept.

variance

12.8

13.2

Net Sales

28.7

28.0

-2.4%

-

Operating Profit

0.23

1.32

+480.5%

-

Depreciation

1.73

1.68

-3.2%

-

1Q2Q3Q4Q

Operating

profit

1.22

0.79

0.53

0.41

0.53

-0.19

1Q

2Q

3Q

4Q

Key Factors

  • Although mass production sales increased due to recovery in production volume and material unit price revisions, net sales decreased due to decrease in sales of new vehicle model development.
  • Despite the impact of lower sales, operating profit increased due to an increase in royalty income from overseas subsidiaries and the effect of cost reduction activities.

Noveber 7, 2023 FY2024 2nd Quarter Financial Results (2023/4-2023/9)

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Disclaimer

G-Tekt Corporation published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2023 14:58:07 UTC.